All Forum Posts by: Mandy F

Who would you have to talk to about local laws for your state (I'm in the US) and have them make sense?

Please send me a PM with the link. Thanks.

:woohoo:
Step one has been accomplished. I've found a local Realtor that's willing to work with me and has experience in rehabbing homes. Amazing in only a week and a half that's happened.
:woohoo:

Thank you so much to the BiggerPockets forum for being my connecting resource and for people taking me seriously, even though younger than many here.

The next step for me is hopefully getting financing, and I'm looking for advice. What do you do to prepare for financing before your first deal when you talk to your mortgage broker/banker? What are the right questions to ask?

Thanks, biggerpro. That gives me a good idea of the people I will need in my team.

Update: I have a meeting with a local Realtor on Wednesday.

I also must admit I've read this paragraph a few more times. If anyone has anything further to add to this comment, it would be appreciated before Wednesday. ^^

Do I have to pick one?

The top book that started me was Rich Dad, Poor Dad by Robert Kiyosaki. It was really scary how much that book just hit me.

I have to say that's the most inspirational because it's the one that really got me started. Since then, I have picked up other books and the following have been inspirational for various reasons.

Richest Man in Babylon by George Clayson - The principles of money that applied in the ancient world of Babylon still apply today. Amazing, isn't it.

Secrets of the Millionaire Mind by T. Harv Eker - The money management system presented in this book was just what I was looking for. You can earn all the money in the world, but without a way to manage it - it means nothing. The other aspect I really like about this book is that it makes you look and recognize at your past programming about money, what your self-stoppers are, and what you can do about it. Be advised this book is a stepping stone for you to sign up for their training programs.

E-Myth Revisited by Michael E. Gerber - You want to tell your boss to shove it and start your own business. The pie baker starts the pie shop. The computer tech opens the computer shop. The plumber starts the contracting service. Before you know it, you're tearing your hair out trying to do everything and all the pies are on the floor. Save yourself the cleanup and learn about systems. This, combined with Cashflow Quadrant (also by Kiyosaki) helps you create a business instead of your own job.

How to Wins Friends & Influence People by Dale Carnegie - All the way from investors to the person sweeping the floor at night, you've got to remember that they are still human beings. They are still people. Treat them all with the same dignity and respect you treat your best friend. These are people you want to build relationships with to last a long time. Treat them well.

Think & Grow Rich by Napoleon Hill - You can have all the technical skills, know the magic of working with people, but it first starts with you. You know that wishes don't make dreams come true, but a burning desire and belief that you can achieve your goals. "Whatever you can conceive and believe, you can achieve." (pg. 14) The only one stopping you IS YOU.

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Hello Jim,

Agreed, which is why I'm looking for and building a relationship with a Realtor first. The other option I saw was opening a phone book and start making phone calls - and my eyes go like a deer in the headlights when I try to think about that.

No, there aren't deer roaming around in Lincoln, but my grandmother lives outside the city on an acreage and I visit her from time to time. If you live in the heartland, I have a feeling you know what I'm talking about. :wink:

Hello Clayton,

Thanks for your offer and putting your name out there. I will keep you in mind. You may take note of my financing comment below.

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Hello Beachbum,

Thanks for your advice and input.

Goals: What I'd like to do is rehab a few places and put part of that into a duplex or 4plx cashflow property that's managed by a property management company. Then go onto bigger deals, perhaps larger apartment complexes (not solo, as a team). Repeat until I have enough cashflow to cover expenses (already have this calculated and how to manage it). A timeline has not yet been established.

A Realtor in my area is contacting me today to see if we have a fit.
Agreed. These already established relationships are priceless.
This is the one that concerns me. I'm only 23, and never have owned my own home. I'm worried about being able to qualify myself or get a co-signer that has the qualifications to be able to get me financing.
Most definitely agreed. Thanks for those tips.

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Hello jgeorgie33,

I've lived in Lincoln all of my life and have found most people have connections to the Heartland in some way (midwest area). I like it. =D

I'd say you got lucky, maybe a contractor worth keeping.

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